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Duke  University  Libraries 

A  bill  making  f 
Conf  Pam  #268 


[IIoURE  OF  Reprkskntatfves,  Xo.  380.] 

HOUSE  OF  REPRESENTATIVES,  February  24,  18(;5.~Read 
first  and  second  times,  made  coi)tinuin<r  special  order  after  present 
ppecial  orders  and  ordered  to  be  piiuted. 

[By  Mr.  Lyon,  from  Committee  ol'  Ways  and  Means. 


A.    BILL 

Making  furtbei-  regulution^  ior  tbe   taxation    ol  banks  and    bank 
notes,  and  for  the  eonfigcatiou  of  sueb  noteai  held  by  alien 
euemie:^. 

1  The  Co-iigress  uf  the  ('vnfed^ratf  States  of  Aimrica  du  enact,  as 

'2  follows ;  From  the  pa-sajtC  of  thi^J  Acf  thfie  ^liall  be  annually  lev- 

o  ied  a  tax  of             per  centum  upou  the  shares  or  capital  stock, 

4  and  the  sur^u^  or  rcnervod  fii,„l  of  cavU  itu-oi-p-orated  l).ink  of 

5  issue  and  deposit  within  th(^  ('fnift'dtMaii'  Sditcs:  the  retitrn  of 
f»  which  said  shares  find  rcsnvcil  linid  shall  be  made,  and  the  tax 
7  thereon  paiil  by  the  l>nnk  itself.  Th«>.  tux  upon  tho  said  shores 
»  shall  bo  assessed  u]>oii  the  aniount  thereof,  as  estimated  and 
9  fixed  by  their  charters,  and  shall,  with  the  tax  on  the  reserved 

10  fund,  constitute  the  only  taxation    to   which   the  bank   f<hall  be 

11  liable. 

1  Sec.  2.     If  any  holder   of  notes  or    bills  of  any  such  bank 

2  shall,  at  any  time  before  the  day  of  1865 


2 

3  pnxliicc!  llic  s.'iiiK!  I(t  [lie  assessor  of  tho  roriferl orate  States  for 

4  his  district,  to  be  li.^ted  for  taxation,  and  make  affidavit  before 

5  the  said  assessor,  that,  so  far  as  the  affiant  kuows  or  believes, 
()  the  notes  or  bills  so  produced  were,  on  tlie  day  of  the  passage 
7  of  this  Act,  and  at  the  time   of  making  such   affidavit  continue 

•  8  to  be,  the  property  of  a  loyal  citizen  or  citizens  of  the  Confed- 

9  erate  States,  or  of  a  corporation  chartered  by  one  of  the  said 

10  States  and  having  its  office  or  place  of  business  within  the  limits  of 

11  such  state,  or  of  an  alien  whose  property  is  not  liable  to  seques- 

12  tration  under  the  existing  laws  of  the  Confederate  States,  such 

13  notes  or  bills  shall  be  assessed  with  a  tax  of  five  per  centum  on 

14  their  amount,  to  be  paid  by  the  holder  thereof,  to  be  paid  partly 

15  in    specie   and   partly    in  Treasury  notes  of  the  Confederate 

16  States,  the  part  payable  in  specie  bearing  the  same  pioportiou 

17  to  the  part  payable  in  the  said  treasury  notes,  that  the  amount 

18  of  specie  held  by,the  bank  at  the  date  of  such  assessment  bears 
Id  to  the  sum  of  its  outsianding   notes   or  bills.     And  it  shall  be 

20  the  duty  of  every  such  assessor,  at  the  time  such  notes  or  bills 

21  arc  produced  and  affidavit  made  as   aforesaid,   to   naark  every 

22  such  note  or  bill,  by  writing  his    name   and   official  title  across 
23  the  face  thereof,  and,  as  soon  as  practical  le,  after  the  said 

24  day  of                1865,  to  report  to   every  such   bank  tlie 


3 


25  amount  of  its  notes  and  bills  marked  by  him  as  aforesaid.     For 

26  failing  to  mark  as  aforesaid  any  such  note  or  bill,  he   shall  for- 

27  feit  and  pay  to  the  Confederate  States  double  the  amount  there- 

28  of,  to  be  recovered  by  motion,  upon  ten  days  notice,  in  the  dis- 

29  trict  court  of  the  Confederate   States,  having  jurisdiction  over 

30  his  district ;  and  for  failing  to  make  such  report  as  aforesaid  to 

31  any  bank  for  the  space  of  one  month  after  the  said 

32  day  of  1 865,  he  shall  forfeit  and  pay  to  the  Confed- 
S3  erate  States  one  thousand  dollars,  to  be  recovered  upon  such 
34  notice  and  motion  as  aforesaid. 

1  Sfic.  3.    After  the  said  day  of  1865,  no 

2  such  bank  shall  pay  or  redeem,  or  receive  in  payment  or  on  de- 

3  posit,  any  of  its  notes  or  bills  not  marked   as  aforesaid   by  an 

4  assessor   of   the    Confederate  States.     The  act   of   any  bank 

5  oflicer  in  violation  of  this   section,  shall  be  regarded  as  tlie  act 

0  of  the  bank,  and  for  every  such   act  the  bank  shall  forfeit  and 

7  pay  to  the  Confederate  States   double  the   amount  of  the  said 

8  notes  or  bills  so  paid  or  redeemed,  or   received  in  payment  or 

9  on  deposit,  to  be  recovered  by  like    motion  and  on  like  notice 
10  as  are  mentioned  in  the  last  preceding  section. 

1  Sec.  4.     Every  person  who  shall    falsely  make   or  conntor- 

2  feit  any  assessor's  mark,  such  as  is   above   provided  for,  upon 


3  anj  such  note  or  bill  as  aforesaid,  shall  be  deemed  f^uilty  of  for- 

4  gery,  and  on  conviction  tlioreof,  shall  undergo  the  same  puniah- 

5  ment  as  is  provided  by  law  for  the  offence  of  forging  a  Treasury 

6  note  of  the  Confederate  States. 

1  Sec.  a.     All  outstanding  notc.-^  itnd    liills    of  any  Huch  banks 

2  as  aforesaid,  that  ?hiill  not  have  boon  in'o<lucod  to  and  marked 

3  by  an  aeso^sor  of  tlic  ('onftdoratc  Statos,  as  aforesaid,  before 

4  the  said  day  of  186.5,  shall  be  deemed    and 

5  taken   to    b?  tlu?    property    of  alira  cneniic.-*  of    the   Confed- 

6  crate  States  ;  and  each  of  the  said  banks  shall,  as  soon  as  prac- 

7  ticablc,  after  the  day  last  mentioned,  report  to  the  Secretary  of 

8  the  Treasury  the  amount   of  its  notes  and  bills  so  outstanding 
0  and  unmarked  as  aforesaid,  and  after  deducting  therefrom  such 

10  an  amount  as  the  board   of  directors  of  any  such  bank   shall 

1 1  certify  they  verily  believe  to  be  no  more  than  a  fair  allowance 

12  for  the  diminution  of  the  bills   and   notes  outstanding  by  loss 

13  or  destruction  thereof,  shall  pay  the  residue  of  said  amount  in- 

14  to   the  Treasury   of  the   Confederate  States ;  which  payment 
16  may  be  made  in  Cotfederate  States  Treasury  notes  equal  in  nomi- 

16  nal  amount  to  such  residue,  and  when  made  shall  be  equivalent  to 

17  a  full  redemption  of  all  such  outstanding  notes  and  bills,  and 

18  shall  discharge  such  bank  from  all  further  liability   on  accouat 


•19  of  tb©  Rame.     If  any  such   bank  sliall   fail,   for  the  apace  of 
20  months,  to   muke  such   report  or  such  pa'jment  as 

^1  aforesaid,  it  shall  forfeit  and  pay  to  the  Confederate  States  not 

22  less  than  nor  more  than 

23  thousand  dollars,  to  be   recovered  by   like  motion  and  on  like 

24  notice  as  are  mentioned  in   the  second  section:     Provided,  It 

25  appears,  at  any  time  thereafter,  that  the  said  deduction  exceed- 

26  ed  the  amount  of  bills  or  notes  estimated  to  have  been  lost  or 

27  destroyed,  the  bank  w  in  error   shall  pay  the   excess  into  the 

28  Treasury  immediately  on   the  discovery  thereof,  and  in  case  of 

29  default,  be  liable  to  be  sued  therefor;  and  should  the  amount 
SO  deducted  be  less  than  the  amount   of  the  bills  or  notes  lost  or 

31  destroyed,  the  difference  shall  be  paid   to  any  bank  thereunto 

32  entitled  out  of  any  money  in  tho  Treaf^ury  not  otherwise  appro- 

33  priated. 

1  Sec.  6.    The  bank  notes  and  bills  marked  as  aforesaid,  shall, 

2  in  each  year  after  the  assessment  of  tax  thereon,  as  above  pro- 

3  vided  for,  be  assessed  witk  a  like  tax  of  five  per  centum  on 

4  the  amount  thereof,  which  tax  shall  be  payable  partly  in  specie 

5  and  partly  in  Confederate  Treasury  notes,  in  like  proportion  of 
G  specie  and  Treasury  notes  as  the  tax  herein  just  assessed  upon 
7  the  said  bank  notes  and  bills;  but  no  new  production  of  the  said 


i; 

8  notes  and  bills  to  the  assessor,  or  affidavit  touching  .the  same, 

9  or  assessor's  mark  thereon,  shall  be  required. 

1         Sec.  7.     This  Act  shall  be  in  force  from  the  passing  thereof. 


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